Saturday , 16 January 2021

MBS Day Ahead: Plenty of Data, but No One Around to Trade It

By Matthew Graham

Posted To: MBS Commentary

Today brings a relative deluge of economic data compared to yesterday. Reports include Durable Goods, Case-Shiller Home Prices, New Home Sales, and Consumer Confidence. On most occasions in the past, this line-up of upper-middle tier data would be sure to inform trading to some extent and we could all but count on any big beats or misses to move markets accordingly. There are two big problems with this at the moment though. First of all, there’s that whole “no one really cares as much about domestic economic data any more in light of the fact that Europe is the primary motivation for global financial markets” thing. That’s a thing, you know. Then there’s the other thing which isn’t nearly as much of an ongoing thing as the European thing. In the short term, however…(read more)

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